Vimeo acquires Wibbitz in underwhelming exit
The Israeli video creation platform was bought for significantly less than the $30 million it has raised since its founding 10 years ago
Meir Orbach | 22:19 10.11.2021
Video powerhouse Vimeo announced on Wednesday that it is acquiring Israeli automated video creation company Wibbitz. The value of the deal wasn't disclosed, but is believed to be significantly lower than the $30 million Wibbitz has raised since its founding in 2011. Wibbitz was founded by CEO Zohar Dayan and Yotam Cohen, who left the company in 2018. Vimeo acquired Israeli startup Magisto in 2019 and announced this year that it intends to double its workforce at its Israel headquarters in Ness Ziona, currently numbering 120 people. Wibbitz's 30 employees will join Vimeo's Israel office.